After nearly a year of deliberations, the Port Authority of New York and New Jersey (PANYNJ) announced last week that it has called off its 20-year lease agreement with Amazon Inc. to set up a cargo facility at the Newark Liberty International Airport.
On Thursday, PANYNJ’s Chief Operating Officer Huntley Lawrence said that the Port Authority and Amazon were unable to reach an agreement on final lease terms and mutually concluded that further negotiations will not resolve the outstanding issues.
“Unfortunately, the Port Authority and Amazon have been unable to reach an agreement on final lease terms and mutually concluded that further negotiations will not resolve the outstanding issues. The growth of air cargo and the redevelopment of airport facilities in a manner that benefits the region as well as the local community remain a top priority of the Port Authority. Moving forward, the Agency will examine options and determine the best future utilization of these cargo facilities,” Lawrence said.
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